Gold and What Moves it.
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Tracking all things that relate to and affect the price of gold.
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The Root of America’s Problem … | Uncommon Wisdom Daily

The Root of America’s Problem … | Uncommon Wisdom Daily | Gold and What Moves it. | Scoop.it
The Fed’s promise to print 40 billion new dollars every month is pushing thousands of savvy investors into gold. However, as the need for gold grows, so too do the risks of buying it and owning it ....

 

"A Powerful Shift Is Under Way

 

"In the wisdom traditions of the world, such sayings are found as “every high thing shall be made low,” or that yin becomes yang and yang becomes yin.

 

"So maybe we shouldn’t be surprised that America has become less-free — and, necessarily, less-prosperous.

 

"And maybe it shouldn’t be surprising that people in China and much of the rest of the world have struggled out from under the boot of the state and, becoming more-free, are also becoming more-prosperous.

 

"Wouldn’t it be a sad irony — sad for us, anyway — if the outcome of this dynamic should be that China increasingly embraces free markets and economic freedom, while the United States continues its downward spiral into statism?

 

"That seems to be the case. ..."

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A China Gold bar that rusts

A gold bar sold by China's state-controlled China National Gold Group showed signs of rust.

 

BEIJING(BullionStreet): A gold bar sold by China's state-controlled China National Gold Group showed signs of rusting, reports Beijing Times.

 

According to the tabloid, In October 2010, a man identified only by his surname, Shen, purchased what he believed to be pure gold product manufactured by China National Gold from a Beijing department store for 14,900 yuan ($2,400).

 

The bar was stored in a bank safe until Dec. 18, when Shen noticed that it had developed red spots and what appeared to be rust corrosion on the base. As the most non-reactive of all metals, gold should never rust unless it has been mixed with other metals or has been contaminated with additives.

 

On Dec. 24, Shen took the gold back to the store and was offered a refund once staff verified that it was the same item he originally purchased.

 

Shen refused, saying that all he wanted was an explanation. ...

Hal's insight:

LOL China not minting pure gold? LOL go figure.

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